1. This week’s material deals with, amongst other things, the subject of partnerships and partnership accounting. While the accounting is relatively straight forward, the subject is partnerships themselves can be very expansive.
Picture if you will two sisters that want to start a business together. Sister “A” brings to the table technical knowledge and contacts with potential customers. Sister “B” brings to the table the physical facilities to make the product and the cash required to get their business of the ground. Based solely on this information, would you recommend the sisters start a partnership or a traditional c-corp together, and why? No other options are available to you for purposes of this question (LLCs etc don’t count!).
2. You have been exposed to numerous, high-level financial accounting topics, each with its own challenges and nuances.
Which particular topic(s) that we covered did you find challenging or informative, and why?
Each answer should be at least 300 words and must include at least one outside references.